Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-05-04
THEY CANNOT AGREE.
AwIpE GAP BETWEEN THE ENGLISH
MEN AND vIReIHIANs.
Highly Improbable that the Debt Confer
ence Will Result in
Settlement.

The Anglo Virginian debt conference
was in session ut the Allen house from
10 A. NJ. to Il M. yesterday. Messrs.
Braithwaite and Thornton submitted,
in writing, answers to several interroga-
tories propounded to them by the legis-
latiye committee, from which it appear
ed that they represented about twelve
millions OF the Virginia debt held by
Englishmenan one or two millions more
held by citizens of this country. These
bonds are not absolutely within the
control Of the Virginia Committee Of
the Council Of Foreign Bondholders,
but our committeeman were advised
that any agreement entered into by the
conncil would no doubt secure the
funding of all these bonds ana proba-
bly, many more.
Messrs. Thornton and Braithwalte
do not claim to have power to bind the
council. Whatever they do must be
transmitted to England for the ap-
proval of the council.
In other words, they have exactly the
powers of the legislative committee
to negotiate and report to their prin,i-
pals for ratification.
To several members Of our commit
tee the statement of the English gen
tlemen was quite satisfactory to others
not 50.
As TO TERMS OF FUNDING.
But even if Messrs. Thornton and
Eraithwaite represent, in the manner
stated, a sufficient number of bonds to
Justify negotiations with them, they
and the legislative committee are hope
lessly wide apart. They have un-
bosomed themselves to this extent:
that they will not accept the Riddle
berger bill or anything like it. There
is hardly any reason to suppose that
they would assent to per cent. on the
uniiminished principal-$3l, 900, 0O0.
Mr.. Massey yesterday morning ex-
pounded to the Englishmen the posi-
ton of the people of Virginia, aud
after that Mr. Braithwaite was heard,
and il was thereupOn seen more clear
" than ever before that the conferrees
are too far apart ever, under present
circumstances, to come together.
There was another session of the
conferrees yesterday afternoon, bat
the situation was unchanged. The
general opinion was that the conference
had utterly failed.
The English commissioners have
more than once dwclt at considerable
length upon what they are disposed to
think is great extravaganza in Virginia
in spending more than a million and "A
half per annum State and countless
upon the public schools. They have
also remarked upon 1.-THE liberal appro-
priations to the disabled soldiers of the
State"
In other words, they insist that Vir-
ginia can easily edo justice to her
creditors" by reducing these and other
appropriations.
LAST NIGHT.
The legislative committee held a
lengthy meeting last night, at which
they examined the typewriter's copy
VI lut hltuOpldlIl lIllib itlOlt VI tilS 'piA
ference to see if they had presented the
States case satisfactorily and had been
properly recorded.
There will be another meeting of the
conferrees this morning, and unless
some new subject Of discussion is pre-
sentod it is very probable that the legis-
lative committee will to-day conclude
to report to the two houses the result OF
their labors.
1t is believed that the stenographie
report will show that the legislative
committee have presented the case Of
Virginia in a spirit Of fairness and con-
seryatism, and that upon it the General
Assembly can 80 before the people con
fdent that their action will be endorsed
and ratified.
If it be true, as now appears, that
the debt conference has fAiled, nothing
remains but for the two houses to pro.
ceed with the coupon bills on their
calendars.
THE TROUBLESOME DEBT.
The consol-coupOn bonds outstanding
amount to Sl3, 1000.
Ten-forty coupon bonds, 81, 800.
In addition to the above there are of
overdue tax-receivable coupons over
G4,0CO,000